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Practical Steps for Insurers to Get Started with Digital Execution

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Rob Llewellyn, Founder of CXO Transform and Nick Ford, Senior Director of Product Marketing at Mendix, share a ten-point digital transformation overview to help you get started with digital execution.

Publicada em: Tecnologia
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Practical Steps for Insurers to Get Started with Digital Execution

  1. 1. Practical Steps for Insurers to Get Started with Digital Execution Webinar
  2. 2. Rob Llewellyn Founder, CXO Transform @robertllewellyn Nick Ford Sr. Director, Product Marketing, Mendix @nicolasmford Presentation Review Discussion PointsInsight From: #DigitalTransformation
  3. 3. Digitization is a top priority for insurance CIOs. Yet, only 12% consider their organizations to be digitally progressive.
  4. 4. 10-Point Digital Transformation Overview 1. Context and Pilot App Lessons Learned 2. Consider Strategic Objectives 3. Digital Use Cases 4. Orchestrating Transformation 5. Digital Transformation Governance 6. Establish a Balanced Portfolio 7. Assess and Acquire Capabilities 8. Launch, Manage and Govern 9. Realise Business Value 10.Key Take Aways
  5. 5. Start Start Small and Celebrate Success Structure Scale Formalize Processes, Portfolio, Team & Strategy The Digital Enterprise EXECUTION focus changes per stage of digital execution FOCUS: Gain the confidence to start your Digital Execution FOCUS: Learn the discipline to find, prioritize and create solutions that deliver value and support your strategic goals FOCUS: Drive and scale innovation to achieve and sustain leadership
  6. 6. 1. The objective of the pilot was to … 2. What were the challenges? 3. What lessons can be learned? 4. What value was delivered? 5. Is there scope to further increase value of the pilot? 6. If so, will “pilot v2 project” enter the portfolio? Pilot App Lessons Learned
  7. 7. How Is The Firm Responding Strategically? GoalDefense Offense Not Losing Winning
  8. 8. Consider Strategic Objectives App Business Change Benefit Strategic Objective App 2 App 3 App 4 OPERATIONAL EXCELLENCE App 1 Electronic instead of paper based From “only at workplace” to “from everywhere” From heterogenouse to clear defined processes From multiple standards to single system maintenance From local to global security standards Less crisis through more stable system Ease of operation through modern workplace High professional standards across the world through best practices Standardised processes facilitate collaboration with customers Flexible data access from Where ever you are Efficient online processes for managers and employees Improved collaboration through workflows Improved security
  9. 9. How Transformational Will You Be? Business Model How you make money [the greatest opportunity to disrupt and protect against disruption] Operations The efficiency and effectiveness of your business operations Workforce The efficiency and effectiveness of your people Customers Your brand and channels used to engage with customers
  10. 10. Digital Use Cases Solution Description Current Situation Value Proposition Business Benefits
  11. 11. Orchestrating Transformation Who has the Capability, Experience, and Bandwidth to … Conduct Digital Transformation?
  12. 12. Digital Transformation Governance Transformation Direction Makes decisions about the inclusion and removal of any initiatives that wish to become part of the digital transformation portfolio. Transformation Execution Responsible for monitoring progress and resolving issues that may compromise delivery and benefit realisation needed to achieve strategic intent.
  13. 13. GOVERNANCE Digital Transformation Governance Example Projects Transformation Programme Office Transformation Delivery Committee Plans Risks and Issues Reporting Decisions Actions Roadmap Risk Benefits Cost Scope Decisions Executive Committee Transformation Direction Committee
  14. 14. Transformation Direction Committee 1. Understand - Assess existing portfolio - Assess proposed new initiatives 2. Categorise - Organise into groups - Base groups on strategic objectives 3. Prioritise - Establish prioritisation criterion - Rank initiatives by agreed measures 4. Balance - Find the ideal mix of initiatives - Consider budget, risk and benefit return 5. Plan - Collate information from Portfolio Direction - Plan digital transformation execution DigitalTransformation Portfolio 4 R&I Refname Stage1 Stage2 Stage3 Stage4 Stage5 GrandTotal WR&I09-NSO TeamLeaderNewWaysofWorking 1,000,000 1,000,000 WWR&I12-SLA/Travelbalance 800,000 800,000 WR&I01-BurstTeamLeaderPerformanceManagement 656,000 656,000 WWR&I14-RoleofanAnalyst 512,000 512,000 WWR&I13-PublicLaterals 480,000 480,000 WR&I02-NonComplexValveShuts(Bursts) 378,000 378,000 WR&I02-NonComplexValveShuts(NSO) 378,000 378,000 WR&I10-7-7Working+othero/t(Bursts) 339,000 339,000 WWR&I05-RecurringChokes 317,000 317,000 WWR&I10-7-7Working+othero/t 257,000 257,000 WWR&I11-Contractorjobselection 250,000 250,000 WR&I05-Reinstatements 142,317 94,181 236,498 WWR&I04-EndofDay 228,000 228,000 WR&I06-DryDigs(Bursts) 151,460 151,460 WR&I06-DryDigs(NSO) 151,460 151,460 WR&I06-DryDigs(Bursts) 91,000 91,000 WWR&I02-Reducedpassbacks 14,000 14,000 WR&I03-BurstSquadandNSOOperationalDashboards - - WR&I08-DOMSCompliance WR&I10-7-7Working+othero/t(NSO) WWR&I01-FunctionalRoles WWR&I06-Workorders WWR&I07-Contractorjobselection WWR&I08-FleetManagement GrandTotal 2,184,317 1,000,000 596,000 559,000 1,900,101 6,239,418 5 WWOps Refname Stage1 Stage2 GrandTotal WWOps06-DOsetpointsandAerationProcessEfficiency 1,792,000 1,792,000 WWOps01-Improvescreeningprocessquality-contractorsavings 1,053,756 1,053,756 WWOps02-Optimisemanpower 1,016,760 1,016,760 WWOps04-Sewervactoring-Contractorsavings 796,768 796,768 WWOps07-Optimisesludgemovements 456,000 456,000 WWOps04-Sewervactoring-FTEsavings 384,067 384,067 WWOps14-WWOpsCommitmentMeetings 340,000 340,000 WWOps13-Excessenergybilling 264,000 264,000 WWOps08-OptimiseSludgeTreatmentCentres 250,000 250,000 WWOps05-Optimisepumpingstations-WWOps 159,840 159,840 WWOps01-Improvescreeningprocessquality-FTEsavings 156,288 156,288 WWOps11-Policingoflocal contracts 50,000 50,000 WWOps15-WasteWaterFleetmix 33,400 33,400 WWOps05-Optimisepumpingstations-multifunctionalOps 29,600 29,600 WWOps03-MeetingCustomerDemand(7-7Working) 13,500 13,500 WWOps09-Improveoperatorassetcareandinstrumenttraining - - WWOps10-Improveknowledgeretention - - WWOps12-WWOpsOperationalDashboard - - WWOps12-ImproveE&MatWWOps WWOps16-Lubrication WWOps17-SludgeDisposal/Final Product Grand Total 76,500 6,719,479 6,795,979 6 WOps Refname Stage1 Stage2 Stage3 Grand Total WOps05-ManPower-TreatmentWorkers&AssetOperators 1,917,500 1,917,500 WOps02-SourcetoTapManagement 1,360,000 1,360,000 WOps16-OptimiseduseofEnergyandreducedenergy costs 573,800 573,800 WOps04-Manpower-Networks&Leakage 390,000 390,000 WOps11-SiteProcessOptimisation 192,000 192,000 WOps01-WaterFleetmix 168,400 168,400 WOps17-WOpsCommitmentMeetings-E&Mspend 145,000 145,000 WOps17-WOpsCommitmentMeetings-WOpsspend 145,000 145,000 WOps10-WaterTreatmentSludgeMovement-WOpsbenefit 100,000 100,000 WOps10-WaterTreatmentSludgeMovement-WWOpsbenefit 100,000 100,000 WOps06-Overtime 50,000 50,000 WOps14-RemoteSystemAccess 48,000 48,000 WOps08-OrderingProcess 43,200 43,200 WOps07-PowerBilling - - WOps13-PlantAutomation Grand Total 1,793,200 3,271,300 168,400 5,232,900 Digital Use Cases Five Stage Portfolio Direction Process
  15. 15. Establish a Balanced Portfolio Focus on Start Phase with Portfolio Planning Low Complexity, High Exposure • Customer facing • Multi-channel • Limited integrations Example: Lead generation app, customer engagement High Complexity, High Exposure • Customer facing & multi-channel • Heavy usage • High available, disaster recovery • Goal and requirements to be discovered Example: customer self-service portal Low Complexity, Low Exposure • Internal users • Limited integrations • Value driver: Efficiency • Well defined goal & requirements Example: automating manual processes High Complexity, Low Exposure • Complex integrations • Business critical • Heavy data load • Internal users • Goal and requirements available Example: automating manual processes Exposure Complexity
  16. 16. • = your first project reference • Discuss: • Functionality expected (MVP) • Integrations • Parties involved (interdepartmental, integrations) • Architecture impact (SOA, CBA) • Governance (cross regional, foreign, cross BU) HOW TO LOOK AT T-SHIRT SIZING
  17. 17. Remove Siloes Trade siloes and chaos…
  18. 18. Remove Siloes …for a balanced and coordinated portfolio
  19. 19. Transformation Capabilities
  20. 20. Launch, Manage and Govern 2017 2018 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Q1 Q2 Q3 Q4 Start Transformation Exploration Establish Portfolio Governance and Committee Agree, Fund and Resource Portfolio Govern and Manage Transformation Programme 1. Portfolio Management 2. Value Management 3. Risk Management 3. Programme & Project Management 4. Business Process Management 5. IT Management 6. Organisational Change Management 7. Competence & Training Management Launch Transformation Programme Realise Benefits Establish Portfolio 1. Assess current state 2. Analyse & recommend 3. Formalise portfolio 4. Preparation Realise Benefits Realise Benefits Realise Benefits Realise Benefits Realise Benefits Realise Benefits Realise Benefits Realise Benefits
  21. 21. Realize Business Value Strategic • Support for the organisation’s strategy • Long or short term viability of the organisation • Provide customers with unique value proposition • Desire to be seen as innovative • Permit new business models • Permit new forms of organization • Build barriers to entry • Lock in customers Management • Increased agility • Better control through improved information • Growing the skills of the workforce • Meeting the highest professional standards • Ease of operation, allowing use by less experienced staff • Improve quality of working life • Existing systems have become inadequate • Less crisis Operational • More effective use of existing IT systems • Improved quality at reduced cost • Improved turn around time • Enable staff to focus on more high-value work • Reduced headcount • Reduction in costs • Increased income from better quality products • Timeliness and accessibility of data Functional / Support • Employee self services • Improved recruitment and retention processes • Provision of infrastructure systems • Improved communication/collaboration opportunities • Adoption to standards • Compatibility with customers/suppliers systems • Enforcement of regulatory or legal requirements • Implementation of metrics • Production of standard reports
  22. 22. Key Take Aways 1 Support Strategy 2 Orchestrate Holistically 3 Deliver Value
  23. 23. Three Immediate Actions To Take 1 Identify the strategic priorities that digital should support 2 Create 3 to 5 digital use cases to help achieve each strategic objective 3 Agree where on a 12 month roadmap each digital project should reside
  24. 24. Download the on-demand webinar to learn more about getting started with Digital Transformation. Download Webinar

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